Risk appetite eased yesterday, with global stock indices giving back some of their recent gains as investors may have turned cautious ahead of today’s Fed minutes as well as the Jackson Hole annual economic symposium, which begins tomorrow. In the FX sphere, the pound was the main gainer, coming under buying interest after German Chancellor Angela Merkel said that the EU would think “practical solutions” on the Irish backstop.
Equity Markets Correct Lower Ahead of Fed Minutes and Jackson Hole
The dollar traded lower against most of the other G10 currencies on Tuesday and during the Asian morning Wednesday. It underperformed the most against GBP, CHF and JPY in that order, while it eked out some gains versus NZD and NOK. The greenback was found virtually unchanged against SEK.
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